Costco Wholesale Correlations
COST Stock | USD 731.54 5.91 0.81% |
The correlation of Costco Wholesale is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Costco Wholesale moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Costco Wholesale Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Costco Wholesale Corp and NYA is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Costco Wholesale Corp and NYA in the same portfolio, assuming nothing else is changed.
Costco |
The ability to find closely correlated positions to Costco Wholesale could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Costco Wholesale when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Costco Wholesale - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Costco Wholesale Corp to buy it.
Moving together with Costco Stock
0.69 | BJ | BJs Wholesale Club Financial Report 28th of May 2024 | PairCorr |
0.73 | DG | Dollar General Report 21st of March 2024 | PairCorr |
0.92 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
0.9 | CL | Colgate-Palmolive Sell-off Trend | PairCorr |
0.63 | KR | Kroger Company Financial Report 20th of June 2024 | PairCorr |
0.89 | PG | Procter Gamble Sell-off Trend | PairCorr |
0.68 | UL | Unilever PLC ADR | PairCorr |
Moving against Costco Stock
0.87 | VDKB | Vodka Brands Corp | PairCorr |
0.84 | IH | IhumanInc Report 29th of March 2024 | PairCorr |
0.76 | DNUT | Krispy Kreme Financial Report 9th of May 2024 | PairCorr |
0.72 | YI | 111 Inc Earnings Call This Week | PairCorr |
0.64 | BG | Bunge Limited Financial Report 1st of May 2024 | PairCorr |
0.64 | JZ | Jianzhi Education Report 4th of October 2024 | PairCorr |
0.62 | DOLE | Dole PLC Financial Report 16th of May 2024 | PairCorr |
0.6 | TR | Tootsie Roll Industries | PairCorr |
0.58 | LW | Lamb Weston Holdings Report 4th of April 2024 | PairCorr |
0.52 | GO | Grocery Outlet Holding Financial Report 14th of May 2024 | PairCorr |
0.52 | PM | Philip Morris Intern Financial Report 18th of April 2024 | PairCorr |
Related Correlations Analysis
LOCO | TTC | WING | INN | ACU | SMIZF | WEYS | ||
LOCO | 0.42 | 0.05 | 0.32 | 0.67 | 0.17 | 0.61 | LOCO | |
TTC | 0.42 | -0.05 | 0.33 | 0.49 | 0.06 | 0.7 | TTC | |
WING | 0.05 | -0.05 | -0.53 | -0.02 | 0.82 | -0.15 | WING | |
INN | 0.32 | 0.33 | -0.53 | 0.22 | -0.52 | 0.4 | INN | |
ACU | 0.67 | 0.49 | -0.02 | 0.22 | 0.15 | 0.75 | ACU | |
SMIZF | 0.17 | 0.06 | 0.82 | -0.52 | 0.15 | -0.01 | SMIZF | |
WEYS | 0.61 | 0.7 | -0.15 | 0.4 | 0.75 | -0.01 | WEYS | |
LOCO | TTC | WING | INN | ACU | SMIZF | WEYS |
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Costco Stock performing well and Costco Wholesale Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Costco Wholesale's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
LOCO | 1.32 | (0.28) | 0.00 | (0.04) | 0.00 | 2.58 | 7.09 | |||
TTC | 1.27 | 0.06 | (0.01) | 0.29 | 1.50 | 2.61 | 14.49 | |||
WING | 1.56 | 0.40 | 0.14 | 0.76 | 1.80 | 3.99 | 13.23 | |||
INN | 1.34 | (0.27) | 0.00 | (0.03) | 0.00 | 2.42 | 10.04 | |||
ACU | 2.46 | 0.09 | (0.02) | (0.19) | 3.26 | 3.96 | 17.63 | |||
SMIZF | 0.63 | 0.26 | 0.00 | 2.02 | 0.00 | 0.00 | 20.83 | |||
WEYS | 1.40 | (0.09) | (0.07) | 0.00 | 1.92 | 3.51 | 10.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Costco Wholesale without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Correlation Analysis Now
Correlation AnalysisReduce portfolio risk simply by holding instruments which are not perfectly correlated |
All Next | Launch Module |
Costco Wholesale Corporate Directors
Costco Wholesale corporate directors refer to members of a Costco Wholesale board of directors. The board of directors generally takes responsibility for the Costco Wholesale's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Costco Wholesale's board members must vote for the resolution. The Costco Wholesale board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Hamilton James | Lead Independent Director | Profile | |
Maggie Wilderotter | Director | Profile | |
Mary Wilderotter | Independent Director | Profile | |
Charles Munger | Independent Director | Profile |
Already Invested in Costco Wholesale Corp?
The danger of trading Costco Wholesale Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Costco Wholesale is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Costco Wholesale. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Costco Wholesale Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Costco Wholesale Corp is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Costco Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Costco Wholesale Corp Stock. Highlighted below are key reports to facilitate an investment decision about Costco Wholesale Corp Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Costco Wholesale Corp. Also, note that the market value of any Company could be tightly coupled with the direction of predictive economic indicators such as signals in state. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Complementary Tools for Costco Stock analysis
When running Costco Wholesale's price analysis, check to measure Costco Wholesale's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Costco Wholesale is operating at the current time. Most of Costco Wholesale's value examination focuses on studying past and present price action to predict the probability of Costco Wholesale's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Costco Wholesale's price. Additionally, you may evaluate how the addition of Costco Wholesale to your portfolios can decrease your overall portfolio volatility.
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
Transaction History View history of all your transactions and understand their impact on performance | |
Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
CEOs Directory Screen CEOs from public companies around the world |
Is Costco Wholesale's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Costco Wholesale. If investors know Costco will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Costco Wholesale listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.188 | Dividend Share 4.08 | Earnings Share 15.31 | Revenue Per Share 560.607 | Quarterly Revenue Growth 0.057 |
The market value of Costco Wholesale Corp is measured differently than its book value, which is the value of Costco that is recorded on the company's balance sheet. Investors also form their own opinion of Costco Wholesale's value that differs from its market value or its book value, called intrinsic value, which is Costco Wholesale's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Costco Wholesale's market value can be influenced by many factors that don't directly affect Costco Wholesale's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Costco Wholesale's value and its price as these two are different measures arrived at by different means. Investors typically determine if Costco Wholesale is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Costco Wholesale's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.